Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday.Health and Scienceread more
Saudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's...Futures & Commoditiesread more
U.S. stock futures sank amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The recommendations include changing corporate reporting structures, creating a new safety group, and changing the cockpits of future planes to accommodate new pilots with...Aerospace & Defenseread more
The state would become the second in the country, behind Michigan, to ban the sale of fruit flavored e-cigarettes, which are popular with teenagers.Health and Scienceread more
Federal Reserve Chairman Jerome Powell said the central bank did not take "political considerations" into account when deciding on Wednesday to take a much more patient approach with interest rates. President Donald Trump has repeatedly attacked the Fed for raising rates.
Stocks surged after the Fed decided to hold interests rates in a range between 2.25 percent and 2.5 percent and said in a statement that it will be more "patient" in assessing future rate hikes. The bank also put out a separate statement to ease concerns about its balance sheet unwind, something which Trump has specifically attacked.
"What we care about, and really the only thing we care about at the Fed, is doing our job for the American people and using our tools," Powell said at a news conference.
"We're always going to do what we think is the right thing, we're never going to take political considerations into account or discuss them as part of our work. We're human, we make mistakes, but we're not going to make mistakes of character or integrity. I wouldn't want the public to know that and I wouldn't want them to see that in our actions," Powell added.
Trump's attacks have pointed at both Powell and the central bank. The president has said he's "not even a little bit happy with" Powell and thinks the Fed is "way-off base" with its monetary policy. As recently as December, Trump discussed firing Powell because of widespread losses in the stock market in the last three months of 2018.
Powell declared Jan. 4 that he would not resign if Trump asked him to step down.
Powell's statements followed the January meeting of the Federal Open Market Committee.